$500M Mystery Seller: Who’s Dumping Data-Center Loans After AI Stock Crash?

An unidentified lender is auctioning about $500 million of data center loans in one batch, a development reported Thursday as AI stocks crashed. The bundle includes roughly a dozen loans tied to operators Vantage Data Centers and CyrusOne, plus a $25 million slice for Project Jupiter, a New Mexico AI campus that is part of the Stargate venture involving OpenAI, Oracle and SoftBank. Oracle, the site’s main tenant, sent a force majeure notice in September; the clause covers events outside a company’s control and could let Oracle delay payments if the campus misses its 2028 start. Oracle said the project remains on schedule. Bids close November 19 with a $10 million minimum, before a December 7 hearing on a state air permit.